20th September 2016
Before the end of this month, the Anti-Money Laundering Council (AMLC) will file charges against officials of Rizal Commercial Banking Corp. (RCBC) in connection with the entry of money stolen from Bangladesh’s central bank last February, an official said Monday. The Yuchengco-led bank will also be slapped nonmonetary penalties for… Read More
11th September 2016
The Philippines’ department of justice has ended primary investigation in the cyber highest of the largest-ever amount of money Bangladesh Bank account of New York Federal reserve. At least 81 million dollars of the stolen money was en-cashed in Manila. The Daily Inquirer reported that the probe was related to… Read More
8th September 2016
Seven months after $81-million of its funds was stolen in a cross-border money laundering scheme in February, Bangladesh has taken the first legal step to claim at least $15 million. On behalf of Dhaka, the Department of Justice (DOJ) has filed for claims to have the money returned to Bangladesh. Read More
11th August 2016
Huge amount of money is being siphoned off from the country every year and not a single launderer has been identified yet, said Abdur Razzak Read More
10th August 2016
Rizal Commercial Banking Corp (RCBC) officials say they have preserved ties with major U.S. banks despite the use of one of its branches in Manila by cyber criminals to funnel $81 million stolen from the Bangladesh central bank’s account at the Federal Reserve Bank of New York. The money was… Read More
9th August 2016
A high-level delegation from Bangladesh will arrive next month seeking to recover the $81 million laundered in the Philippines. Read More
8th August 2016
THE IMPOSITION of a P1-billion penalty on Rizal Commercial Banking Corp. (RCBC)―the largest fine ever imposed by a regulator in local banking history―bolsters the argument the transfer of $81 million in funds stolen from the Bangladeshi central bank was facilitated at the RCBC head office and not at the branch… Read More
5th August 2016
Banking regulators on Friday imposed the single biggest monetary penalty on an erring financial institution in the country’s history, slapping the Yuchengco family-controlled Rizal Commercial Banking Corp. (RCBC) with a P1-billion fine in the wake of the Bangladesh Bank cyberheist. In a statement issued late Friday, the Bangko Sentral ng Pilipinas… Read More
4th August 2016
John Gomes: 'This case involving about $15 million is pending, but I think within one month they should be resolving that case and we will be getting back our money' Read More
2nd August 2016
Officials from the Bangladesh central bank are visiting Manila this week to pressure the authorities in the Philippines to find ways to return the $63 million that is still missing out of the funds stolen from its account at the Federal Reserve Bank of New York earlier this year, two… Read More